Democratic Party candidate Lee Jae-myung won the 21st presidential election in South Korea.
Lee had previously suggested setting up a stablecoin market denominated in Korean won, stating that he aimed to prevent the outflow of national wealth abroad.
Following his election victory, Lee Jae-myung said, “I respect our people’s great decision… I will do my best not to disappoint expectations.”
Lee, who left his home in Incheon’s Gyeyang-gu district with his wife Kim Hye-kyung this evening (June 3) after the election result was finalized, said, “It is too early to say for sure since the vote count is still ongoing, but if the results are confirmed in this way, I respect the great decision of our people.”
Ahead of the election, both Democratic Party candidate Lee Jae-myung and People’s Power Party (PPP) candidate Kim Moon-soo called for the loosening of current regulations restricting cryptocurrency investment and use. Both candidates cited reforms that would pave the way for more innovation and an investment-friendly environment in the crypto sector.
*This is not investment advice.
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